6-K 1 a12-14989_16k.htm 6-K

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15b-16 OF
THE SECURITIES EXCHANGE ACT OF 1934

 

June 2012

Date of Report (Date of Earliest Event Reported)

 

Embotelladora Andina S.A.

(Exact name of registrant as specified in its charter)

 

Andina Bottling Company, Inc.

(Translation of Registrant´s name into English)

 

Avda. El Golf 40, Piso 4

Las Condes

Santiago, Chile

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F x         Form 40-F o

 

Indicate by check mark if the Registrant is submitting this Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes o         No x

 

Indicate by check mark if the Registrant is submitting this Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes o         No x

 

Indicate by check mark whether the registrant by furnishing the information contained in this Form 6-K is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934

Yes o         No x

 

 

 



 

Exhibit III.

 

EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES

COMPLEMENTARY PROFORMA MERGER STATEMENTS OF FINANCIAL POSITION ANDINA-POLAR AS OF MARCH 31, 2012

 

 

 

 

 

 

 

 

 

 

 

Embotelladora

 

 

 

Embotelladora

 

Embotelladoras

 

Adjustments and

 

Andina S.A. and

 

 

 

Andina S.A. and

 

Coca-Cola Polar S.A.

 

Reclassifications

 

Subsidiaries

 

 

 

Subsidiaries

 

and Subsidiaries

 

Charge

 

Credit

 

Total Merged

 

 

 

Million Ch$

 

Million Ch$

 

Million Ch$

 

Million Ch$

 

Million Ch$

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

Current Assets

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

40,202

 

23,134

 

 

 

 

 

63,336

 

Other financial assets

 

8,998

 

 

 

 

 

 

 

8,998

 

Other non-financial assets

 

17,361

 

1,751

 

 

 

 

 

19,112

 

Trade and other accounts receivable, net

 

89,581

 

30,061

 

 

 

 

 

119,642

 

Accounts receivable from related companies

 

5,532

 

3,456

 

 

 

400

 

8,587

 

Inventory

 

55,575

 

21,609

 

 

 

 

 

77,185

 

Current tax assets

 

2,154

 

1,471

 

 

 

 

 

3,625

 

Total current assets

 

219,403

 

81,482

 

 

 

400

 

300,484

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-current assets

 

 

 

 

 

 

 

 

 

 

 

Other non-financial, non-current assets

 

30,771

 

1,611

 

 

 

 

 

32,382

 

Trade and other accounts receivable, net

 

6,953

 

 

 

 

 

 

 

6,953

 

Accounts receivable from related companies, net

 

9

 

 

 

 

 

 

 

9

 

Equity method investments

 

61,064

 

6,780

 

 

 

 

 

67,845

 

Intangible assets, net

 

1,178

 

2,587

 

 

 

 

 

3,765

 

Goodwill

 

54,964

 

9,024

 

375,081

(1)

 

 

439,069

 

Property, plant and equipment, net

 

350,458

 

161,925

 

 

 

 

 

512,382

 

Deferred tax assets

 

 

 

6,107

 

 

 

4,550

 

1,557

 

Total non-current assets

 

505,397

 

188,033

 

375,081

 

4,550

 

1,063,961

 

Total assets

 

724,800

 

269,515

 

375,081

 

4,950

 

1,364,446

 

 

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EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES

COMPLEMENTARY PROFORMA MERGER STATEMENTS OF FINANCIAL POSITION ANDINA-POLAR AS OF MARCH 31, 2012 (*) VALID FOR FINANCIAL MERGER

 

 

 

 

 

 

 

 

 

 

 

Embotelladora

 

 

 

Embotelladora

 

Embotelladoras

 

Adjustments and

 

Andina S.A. and

 

 

 

Andina S.A. and

 

Coca Cola Polar S.A.

 

Reclassifications

 

Subsidiaries

 

 

 

Subsidiaries

 

and Subsidiaries

 

Charge

 

Credit

 

Total Merged

 

 

 

Million Ch$

 

Million Ch$

 

Million Ch$

 

Million Ch$

 

Million Ch$

 

LIABILITIES AND NET EQUITY

 

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

 

 

 

Other financial liabilities

 

21,727

 

9,645

 

 

 

1,869

 

33,241

 

Trade and other accounts payable

 

104,296

 

34,214

 

1,972

 

 

 

136,539

 

Accounts payable to related companies

 

14,803

 

13,442

 

 

 

 

 

28,244

 

Provisions

 

87

 

1,835

 

1,127

 

 

 

794

 

Income tax payable

 

5,094

 

93

 

 

 

 

 

5,186

 

Other non-financial liabilities

 

17,260

 

29,565

 

 

 

2,699

 

49,524

 

Total Current Liabilities

 

163,267

 

88,794

 

3,099

 

4,567

 

253,529

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Current Liabilities

 

 

 

 

 

 

 

 

 

 

 

Other non-current financial liabilities

 

75,538

 

70,108

 

 

 

 

 

145,646

 

Other accounts payable

 

 

 

4,714

 

1,869

 

 

 

2,845

 

Provisions

 

7,307

 

 

 

 

 

 

 

7,307

 

Deferred tax liabilities

 

37,054

 

9,625

 

4,550

 

 

 

42,129

 

Post-employment benefit liabilities

 

5,331

 

 

 

 

 

 

 

5,331

 

Other non-current liabilities

 

297

 

 

 

 

 

 

 

297

 

Total Non-Current Liabilities

 

125,528

 

84,447

 

6,419

 

0

 

203,556

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity

 

 

 

 

 

 

 

 

 

 

 

Issued capital

 

230,892

 

39,867

 

 

 

 

 

270,759

 

Retained earnings

 

232,810

 

71,056

 

 

 

 

 

303,866

 

Accumulated other comprehensive income and capital

 

-27,704

 

-16,508

 

 

 

375,081

(1)

330,868

 

Equity attributable to equity holders to parent

 

435,998

 

94,415

 

0

 

375,081

 

905,494

 

Non-controlling interests

 

8

 

1,859

 

 

 

 

 

1,867

 

Total Equity

 

436,006

 

96,274

 

0

 

375,081

 

907,361

 

Total Liabilities and Equity

 

724,800

 

269,515

 

9,518

 

379,648

 

1,364,446

 

 

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(*) This complement aims to give preliminary insight into the application of International Financial Reporting Standards in the presentation of the Proforma Merger Balance Sheet as of March 31, 2012.

 

(1)                                For the estimation of the economic value of the transaction we have referenced the value of Embotelladora Andina’s share (according to what has been published by the Bolsa de Comercio de Santiago-the Santiago Stock Exchange) as of March 31, 2012, and the number of shares to be issued in an amount of 186,304,194 (2) as agreed between the Companies and in accordance with the expert opinion issued by IM Trust,  the resulting value of the operation in the amount of MCh$469,496 compared with the assets and liabilities received in the merger on behalf of Embotelladoras Coca-Cola Polar S.A., result in an over-price of MCh$375,081.  This over-price corresponds mainly to intangible assets generated in the acquisition and that relate mainly to distribution rights owned by the company being acquired.

(2)                                The 186,304,194 shares correspond to new shares being issued so that the former shareholders of Embotelladoras Coca-Cola Polar S.A. keep an ownership interest of 19.6818486% (“19.68 %”) in the merged Company. In turn, the 19.68% stake in the merged Company that the former shareholders of Embotelladoras Coca-Cola Polar must hold, corresponds to the exchange ratio estimated on the basis of the negotiations established by the parties, which in turn was based on the fair value of the Companies at the beginning of the year 2012.

(3)                                After the merger is materialized, the Company, has a period of one year for the business combination (Purchase Price Allocation) with which it will complete the distribution of the goodwill value of the corresponding assets as established under the current rules.

(4)                                Given that the merger has not yet materialized, the values presented correspond to an estimate to this date, so we have called them “proforma”.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized, in the city of Santiago, Chile.

 

 

EMBOTELLADORA ANDINA S.A.

 

By:

/s/ Andrés Wainer

 

Name:

Andrés Wainer

 

Title:

Chief Financial Officer

 

 

Santiago, June 19, 2012

 

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